How are you defining "scrap" Galen ? I'm asking because to some, maybe even many, scrap price is not the same thing as melt price - but it can be sometimes. Junk silver is always just that, junk silver. And it doesn't matter what the silver fineness is, even .999 silver can be junk silver. And typically, a fair price for junk silver is about 10% or so less than the current spot price. But scrap, that can be a different animal because some define scrap differently and the scrap price might 20-30% less than the current spot price. So how are you defining scrap ?
Hold or sell? It depends on what you think the spot market is going to do, and for how long. If you think it is going to drop and stay down for awhile you sell. If you think it is going to go up in the near term you hold.
^^ what he said. Yeah, .75 oz .. I don't know exactly what you are talking about but for instance the 2014 Kennedy Gold 3/4oz commem coin could fit that paradigm. But I wouldn't sell it for scrap. I would love to buy it for scrap but I highly doubt anyone would sell it that low. So what exactly are you talking about ?
ohh, lets see, German empire 2,3,5 mark coinage, British crowns, etc.. I use .75 oz for Crowns or better, guess I'm living in the wrong area, they just pay melt.
Galen, even common date Saints slabbed and graded as high as MS63 and sometimes even 64 routinely sell for about 10% over melt. And if they are not slabbed 10% under melt is not uncommon - even though they are MS coins. The point I am trying to get across is that junk silver and junk gold are just that - junk. So all they are ever going to sell for is close to melt. The same thing is true of common world coins in both silver and gold, even if they are 100-150 years old. They are still considered to be just bullion - or junk in other words.
Pile it up for your kids/grandkids. That’s what I do. I feel like king Midas sometimes when I open my safe. Liquidation of my hoard is my grandkids issue.
